1 July 2022 v2024.6.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP029327342022-07-012023-06-30029327342023-06-30029327342022-06-3002932734core:WithinOneYear2023-06-3002932734core:WithinOneYear2022-06-3002932734core:AfterOneYear2023-06-3002932734core:AfterOneYear2022-06-3002932734core:ShareCapital2023-06-3002932734core:ShareCapital2022-06-3002932734core:RetainedEarningsAccumulatedLosses2023-06-3002932734core:RetainedEarningsAccumulatedLosses2022-06-3002932734bus:Director12022-07-012023-06-3002932734bus:RegisteredOffice2022-07-012023-06-3002932734core:FurnitureFittings2022-07-012023-06-3002932734core:OfficeEquipment2022-07-012023-06-3002932734core:LandBuildings2022-07-012023-06-30029327342021-07-012022-06-3002932734core:LandBuildings2022-07-0102932734core:PlantMachinery2022-07-01029327342022-07-0102932734core:PlantMachinery2022-07-012023-06-3002932734core:LandBuildings2023-06-3002932734core:PlantMachinery2023-06-3002932734core:LandBuildings2022-06-3002932734core:PlantMachinery2022-06-3002932734core:CostValuation2022-07-0102932734core:CostValuation2023-06-3002932734core:BetweenOneFiveYears2023-06-3002932734core:BetweenOneFiveYears2022-06-3002932734core:MoreThanFiveYears2023-06-3002932734core:MoreThanFiveYears2022-06-3002932734countries:EnglandWales2022-07-012023-06-3002932734bus:AuditExempt-NoAccountantsReport2022-07-012023-06-3002932734bus:PrivateLimitedCompanyLtd2022-07-012023-06-3002932734bus:SmallEntities2022-07-012023-06-3002932734bus:FullAccounts2022-07-012023-06-30
Company registration number:
02932734
BCMS Corporate Limited
Unaudited Filleted Financial Statements for the year ended
30 June 2023
BCMS Corporate Limited
Statement of Financial Position
30 June 2023
20232022
Note££
Fixed assets    
Tangible assets 5
1,172,665
 
1,143,197
 
Investments 6
100
 
100
 
1,172,765
 
1,143,297
 
Current assets    
Debtors 7
789,902
 
726,273
 
Cash at bank and in hand
3,339,414
 
4,237,347
 
4,129,316
 
4,963,620
 
Creditors: amounts falling due within one year 8
(1,149,406
)
(1,604,914
)
Net current assets
2,979,910
 
3,358,706
 
Total assets less current liabilities 4,152,675   4,502,003  
Creditors: amounts falling due after more than one year 9
(1,112,500
)
(1,646,500
)
Net assets
3,040,175
 
2,855,503
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
3,039,175
 
2,854,503
 
Shareholders funds
3,040,175
 
2,855,503
 
For the year ending
30 June 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
11 March 2024
, and are signed on behalf of the board by:
Mr J Dunn
Director
Company registration number:
02932734
BCMS Corporate Limited
Notes to the Financial Statements
Year ended
30 June 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Kingsbrook House
,
Kingsclere Park
,
Newbury
,
Berkshire
,
RG20 4SW
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Consolidation

The entity has taken advantage of the option not to prepare consolidated
financial statements
contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Rendering of Services:
The company recognises revenue, from consultancy services, in the reporting period in which the services are rendered.
Success Fee:
Success fees on the sale of a business are recognised on completion of a transaction and when the company can estimate reliably the value of the revenue.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
20% straight line
Office equipment
33% straight line
Land and buildings
Freehold property and subsequent improvements are not depreciated on the grounds that the estimated residual value is sufficiently large to make any depreciation charge immaterial.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
29
(2022:
30.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 July 2022
1,020,353
 
406,171
 
1,426,524
 
Additions -  
54,948
 
54,948
 
Disposals -  
(91,744
)
(91,744
)
At
30 June 2023
1,020,353
 
369,375
 
1,389,728
 
Depreciation      
At
1 July 2022
-  
283,327
 
283,327
 
Charge -  
24,056
 
24,056
 
Disposals -  
(90,320
)
(90,320
)
At
30 June 2023
-  
217,063
 
217,063
 
Carrying amount      
At
30 June 2023
1,020,353
 
152,312
 
1,172,665
 
At 30 June 2022
1,020,353
 
122,844
 
1,143,197
 

6 Investments

Shares in group undertakings and participating interests
£
Cost  
At
1 July 2022
100
 
At
30 June 2023
100
 
Impairment  
At
1 July 2022
and
30 June 2023
-  
Carrying amount  
At
30 June 2023
100
 
At 30 June 2022
100
 

7 Debtors

20232022
££
Trade debtors
27,264
 
17,761
 
Other debtors
762,638
 
708,512
 
789,902
 
726,273
 

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
544,700
 
541,846
 
Trade creditors
92,185
 
110,402
 
Taxation and social security
75,821
 
219,740
 
Other creditors
436,700
 
732,926
 
1,149,406
 
1,604,914
 
The bank loan is secured by fixed and floating charges over the freehold property and fixed and floating charges over all assets of the Company.

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
1,112,500
 
1,646,500
 

10 Operating leases

The company as lessee    
20232022
££
Not later than 1 year
101,590
 
100,549
 
Later than 1 year and not later than 5 years
503,257
 
501,000
 
Later than 5 years
395,000
 
495,200
 
999,847
 
1,096,749